According to a new market research report "De-oiled Lecithin Market by Source (Soy, Sunflower, Rapeseed, and Egg), Application (Food, Bakery Products, Confectionery Products, Convenience Foods, and Dairy & Frozen Desserts), Feed, and
Healthcare), and Region - Global Forecast to 2023", published by MarketsandMarkets, the global market is estimated to be valued at $156. 5 million in 2018 and is projected to reach $232.1 million by 2023, at a CAGR of 8.2% during the forecast period.
The market is driven by factors such rise in clean label food, increase in demand of trans-fatty acid and healthy snacking, and the replacement of artificial and synthetic emulsifier with natural and eco-friendly emulsifiers such as de-oiled lecithin in various different
regions.

Increase in health-conscious consumers due to hike in obesity cases in developed regions such as North America and Europe are expected to drive the demand for de-oiled lecithin in the food applications. Further, Asian countries such as China and India are
witnessing an increase in demand for healthy and less fatty functional food among consumers in the region. The demand for food products such as sugar confectionery, chocolates, and convenient foods is estimated to increase in the region, subsequently driving
the growing demand for de-oiled lecithin. In addition, the population in European and North American countries are facing health issues such as weight gain and obesity. This leads to a shift toward less oily and healthy food ingredients, thus providing a lucrative
opportunity for de-oiled lecithin manufacturers for food.

In terms of volume, the source segment is estimated to account for the largest share of the De-oiled Lecithin Market in 2018. The demand for soy de-oiled lecithin is expected to increase at a significant rate in animal feed applications, owing to low cost when
compared to other types of de-oiled lecithin, which helps reduce the over feed cost and increase yield, especially in developing and emerging countries. Further, the European Food Safety Authority has authorized the use of de-oiled lecithin as feed additives for
all animal species boosting the demand for soy de-oiled lecithin in the region.

The confectionery products segment is estimated to be the largest segment in 2018, with USD 34.6 million. De-oiled lecithin is a vital ingredient in chocolate processing. It provides viscosity control, shortens the processing time, and increases the processing
stability during the manufacturing of chocolate. Initially, chocolate manufacturers were reluctant to use de-oiled lecithin, as it had to be declared with an E-number under the EU law. However, the rise in prices of cocoa butter has urged manufacturers to shift to
de-oiled lecithin as a suitable and cost-effective substitute. Further, in Asia Pacific, China is expected to create lucrative opportunities for manufacturers. Increase in demand for high-quality chocolate is expected to create a robust opportunity, especially for
European manufacturers to expand in the country. Thus, de-oiled lecithin is expected to gain immense popularity among chocolate manufacturers in the coming years, owing to its verticality in the chocolate industry, thus making confectionery the largest market
for de-oiled lecithin application, providing potential growth opportunities for its growth in future as well.

In 2018, Asia Pacific is estimated to account for the largest share of the De-oiled Lecithin Market. Factors such as availability of prominent sources such as soy within the region, increase in awareness toward the benefits of healthy food and feed, growth in
demand for non-allergic and organic food, rise in meat consumption, growth of the aquaculture industry, and high investment growth in the pharma and personal care industry have boosted the demand for De-oiled Lecithin Market in the Asia Pacific region.
Furthermore, the growing adoption of a premium lifestyle with quality food and increase in animal husbandry also fuel the De-oiled Lecithin Market growth in this region.